Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

The implications of Legalizing a prohibited item - Research Paper Example

Comments (0) Cite this document
The Implications of Legalizing Marijuana Name Institution Course The Implications of Legalizing Marijuana Introduction There are debates globally on the effects of legalization of the use of marijuana. Those opposing the legalization give out the many social and health effects of consumption of marijuana…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
The implications of Legalizing a prohibited item
Read Text Preview

Extract of sample "The implications of Legalizing a prohibited item"

Download file to see previous pages They also argue that the legalization would earn the government more income through taxation. They also believe that the legalization will reduce the government’s expenditure on enforcing the prohibition. This paper aims at discussing the economic impacts on the legalization of the use of marijuana. Source of Revenue through Taxation The legalization of the use of marijuana will highly affect the mode of pricing. When the use of a substance is illegal, the price is always high. This is because of the risk involving the marijuana dealers. However, high taxation by the government can make the prices high again. Economists argue that high taxation might lead to the emergence of black market trade. Considering this, it would be advisable to keep taxes minimal in order to reduce the possibilities of emergence of black markets. A good example is the effect of high prices of heroin in Norway where the level of consumption decreased with the increase in the prices. One would argue that the volume of consumption by addicts is likely not to change with an increase in price (Morgan 2011). Some economists would disagree with this since studies on consumption of substances like alcohol and cigarettes show that heavy users responded highly to prices as compared to the other users. This will mean that the only means to get the maximum income from the legalization of marijuana is minimizing the taxation (see Figure 1). This will increase the volume of marijuana consumption, which will mean a high total tax collection. The figure illustrates the relationship between the price of marijuana and its consumption. Figure 1. Marijuana price-demand curve. ( Reduction of Government Expenditure on Marijuana Use Regulation The legalization of the consumption of marijuana will also reduce the government expenditure on the regulation of its use. This will be possible through saving of money that the government spends on marijuana arrests. Records in the United States of America show that there is a very high rate of both marijuana possession and trafficking arrests (Brux 2011). With the legalization of marijuana, the resources allocated for these kinds of arrests can go to another law enforcement sector. The resources spent on judicial processes involving marijuana possessors and traffickers could be saved for other purposes. Records have it that more than 3% of judicial trials in the United States of America involve the marijuana possessors. The percentage of resources spent on such activities can go to other activities. In the United States of America, the number of drug laws criminals in the correctional facilities is more than offenders of the other laws (Clements & Zhao 2009). For instance, in the year 2011, the total number of sentenced was 197050, with 94600 of those were sentenced in drug related trials. The closest to it were the violent offences, which had 14900 inmates. With the legalization of the consumption of marijuana, the government will save the economic resources used for the correction of drug offenders. This money can take care of other economic needs of the country. The legalization of marijuana will also reduce the number of criminal activities involved with its peddling. Since the drug will be legal, more socially decent organization will venture into the marijuana supplying business. Occurrences like this will reduce the necessity of criminal ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“The implications of Legalizing a prohibited item Research Paper”, n.d.)
The implications of Legalizing a prohibited item Research Paper. Retrieved from
(The Implications of Legalizing a Prohibited Item Research Paper)
The Implications of Legalizing a Prohibited Item Research Paper.
“The Implications of Legalizing a Prohibited Item Research Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The implications of Legalizing a prohibited item

Implications of Mobile Communication on Society

Lifestyle has changed and the mobile phone is gradually becoming a part of the culture of modern societies (Hulme & Peters).
Voice transmission is no longer the only way that mobile phones are used. It is a multi-purpose device. Mobile phone networks have become a new platform through which data, information and transactions are exchanged. It serves as an alarm clock, an address book, an entertainment device through games, and to a text message.
At the end of 2003, there were 1.35 billion mobile subscribers worldwide compared to 1.2 billion fixed line users (Shaping the Future Mobile Information Society). It has undoubtedly changed the lives of the people and the biggest factor which induces the purchase of mobile ph...
6 Pages (1500 words) Essay

Ethical Implications of a Biological Issue

The issues of behaviour genetics and behavioural changes in response to biological structures for scientific progress are discussed with opposing arguments presented by those who are against behavioural genetics research. The ethical implications of such research are also discussed.
Behaviour genetics is a complex issue and deals with rational arguments on how behaviour should be changed in accordance with the needs, genetically or otherwise. Behaviour is often considered as species-specific and behaviour changes are in response to alterations in biological processes and structures. However, it has to be kept in mind that certain human behaviour tends to run in families which implies a strong genetic characteristic of behavio...
8 Pages (2000 words) Coursework

The Implications of International Financial Reporting Standards in the United Kingdom

... share in a European stock exchange such as the London Stock Exchange the company has to prepared a set of financial statements based on IFRS standards to qualify to sell in the European stock market. Such discrepancies along with many other aspects of the game create inequality among financial markets that influence the behavior of its participants. The creation of the IFRS in 2005 and its subsequent adoption in the European market was a step in the right direction since it created a set of standards that can unify economic activity across nation including investment banking activity. The problem is that activities such as investment banking require people to fully understand the implication of the changes. Investors accustomed to the GAAP...
18 Pages (4500 words) Research Proposal

Cognitive Psychology And Its Implications

Cognitive psychology attempts to understand the nature of human intelligence and how people think. The study of cognitive psychology is motivated by scientific curiosity, by the desire for practical applications, and by the need to provide a foundation for other fields of social science. (Anderson, 1990:3) Looking into the history of the world at large, it becomes evident that almost all human societies have been socially stratified from the most primitive Paleolithic and Neolithic ages to the most modern contemporary era of hi-technology and computerization. The social division of individuals is on the basis of caste, class, creed, clan, community, region, race, religion, gender, age, and socioeconomic status. Socioeconomic statu...
10 Pages (2500 words) Case Study

The Implications of International M&A

When an international merger or acquisition occurs when the company’s productivity improves through learning from partner firms or obtaining benefits from partners’ complementary assets. On the other hand, international M&A requires companies to restructure so that there could be overheads of coordinating corporate culture and the working environment.
In addition, even if there are no profits from international M&A, corporate managers might have a motivation to get hold of other companies if they have ambitions like “empire building” (Jensen (1986)). In these cases, a productivity loss may be found. Theoretically, it is difficult to determine whether productivity profits from international M&am...
11 Pages (2750 words) Assignment

Business Implications of Land Law

... to include a special provision in the contract requiring the seller to remove all rubbish from the property prior to the completion of the sale.2 In general, a buyer also has the right to inspect the property thoroughly before the sale and if the Company had carried out such an inspection of the property, they would have been able to find the rubbish and require that it be disposed of before the sale was concluded. It is the buyer’s duty to carry out such an inspection and since the Company has chosen to purchase the property without carrying out such a thorough inspection of the premises before the sale was concluded, it may not have much legal recourse to file for any breach of contractual conditions, since the condition for removing...
7 Pages (1750 words) Assignment

The Ethical Implications and Impact of Pre-hospital Intubation on Paramedic Profession

...The Ethical Implications and Impact of Pre-hospital Intubation on UK Paramedic Profession Total Number of Words: 1,739 Table of Contents I. Introduction ……………………………………………………………….. 3 II. Compare and Contrast Utilitarian from Deontological Theories ……. 4 III. Impact of JRCALC’s Recommendation over the Role of UK Paramedics within the Healthcare System ……………………….. 6 IV. Conclusion ………………………………………………………………… 8 References …………………………………………………………………… 10 – 13 Introduction Each time a patient needs mechanical ventilation, the use of intubation has been considered the standard treatment procedure by UK paramedics (Deakin et al., 2008). However, the Joint Royal Colleges Ambulance Liaison Committee (JRCALC) has recently recommended...
6 Pages (1500 words) Literature review

Implications for Personal Investment

The assumption of perfect rationality can be rebutted by the fact that rationality is not the sole driver of human behaviour. On the contrary, our behaviour is contingent upon emotions such as love, fear, pain, and pleasure etc. Human beings only use their intellectual power to achieve or avoid these emotional outcomes (Pompian 2006). Secondly, the assumption of self-interested is also not deemed to be practical because many sociological studies have shown that people are not always self-interested. Had this been the case, then there would not have been a single philanthropist in the world, even people would have avoided negative behaviour such as suicide and alcoholism. The final assumption of perfect information also does not ho...
6 Pages (1500 words) Coursework

The Human Genome Project: Ethical Implications on Health Care Practice

The Human Genome Project is a joint effort of the US Department of Energy and the National Institutes of Health. Founded in 1990, this organization has lead to rapid technological advances which had lead to the realization of a number of goals, which are: the identification of approximately 20,000- 25,000 genes in human DNA, determination of the sequences of 3 billion chemical base pairs which make up human DNA, storage of this information in databases, the improvement of tools for data analysis, the transfer of related technologies to the private sector and addressing ethical, legal and social issues which may arise from the project. (Wetherall, 2006)

The genes determine a lot of things, such as the disease to which a...
9 Pages (2250 words) Term Paper

The Implications of Racism

The situation was so bad that people imported brides from their country just to avoid coupling the local people (Goldberg, 53). This is not a unique case. Though it is not documented, the social structure limits interactions between people from different races. For example, people still prefer to marry form their race. There are suggestions that the phenomenon is an aspect of culture and it is subconscious. Nevertheless, it contributes to creating disparities in society.
For example, France is one of the biggest settlements for Blacks and Jews in Europe (Goldberg, 76). These people settled there due to historical foreign policies adopted. For example, when France was a colonial power, she adopted the policy of assimilation. T...
7 Pages (1750 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic The implications of Legalizing a prohibited item for FREE!

Contact Us